Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear below. The company did not issue any new common stock during the year. A total of 600,000 shares of common stock were outstanding. The interest rate on the bond payable was 10%, the income tax rate was 40%, and the dividend per share of common stock was $0.75 last year and $0.40 this year. The market value of the company's common stock at the end of this year was $22. All of the company's sales are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Property and equipment: Land Buildings and equipment, net Total property and equipment Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Notes payable, short term Total current liabilities Long-term liabilities: Bonds payable Total liabilities Stockholders' equity: $ 1,270 $ 1,330 9,800 13,400 600 7,100 12,000 560 25,070 20,990 10,100 10,100 40,557 39,038 50,657 49,138 $ 75,727 $ 70,128 $ 19,600 $ 18,200 1,090 270 800 270 20,960 19,270 9,200 9,200 30,160 28,470 600 600 4,000 4,000 4,600 4,600 40,967 37,058 45,567 41,658 Total liabilities and stockholders' equity $ 75,727 $ 70,128 Common stock Additional paid-in capital Total paid-in capital Retained earnings Total stockholders' equity Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Total selling and administrative expenses Net operating income Interest expense Net income before taxes Income taxes Net income Dividends to common stockholders Net income added to retained earnings Beginning retained earnings Ending retained earnings Required: Compute the following financial data for this year: This Year Last Year $ 71,825 $ 65,000 46,990 36,000 24,835 29,000 10,600 10,500 6,400 6,300 17,000 16,800 7,835 12,200 920 920 6,915 11,280 2,766 4,512 4,149 6,768 240 450 3,909 37,058 6,318 30,740 $ 40,967 $ 37,058 1. Accounts receivable turnover. (Assume that all sales are on account.) (Round your answer to 2 decimal places.) 2. Average collection period. (Use 365 days in a year. Round your intermediate calculations and final answer to 2 decimal places.) 3. Inventory turnover. (Round your answer to 2 decimal places.) 4. Average sale period. (Use 365 days in a year. Round your intermediate calculations and final answer to 2 decimal places.) 5. Operating cycle. (Round your intermediate calculations and final answer to 2 decimal places.) 6. Total asset turnover. (Round your answer to 2 decimal places.) 1. Accounts receivable turnover 2. Average collection period 3. Inventory turnover 4. Average sale period 5. Operating cycle 6. Total asset turnover days days days